CATL reported strong interim results for the first half of 2026, underscoring its leadership in power and energy-storage batteries.
Revenue and Profitability • Operating revenue rose 54.80 % year on year to RMB 276.92 billion, driven by sustained global demand for EV and energy-storage batteries. • Net profit attributable to shareholders increased 41.98 % to RMB 43.28 billion; net profit margin came in at 15.6 %. • Net profit after non-recurring items reached RMB 39.01 billion, up 43.44 %. • Gross margin slipped 1.09 percentage points to 23.93 %, reflecting product-mix changes and a larger contribution from lower-margin segments.
Segment Performance • EV battery systems generated RMB 192.12 billion (+46.02 %), accounting for 69.4 % of total revenue. • Energy-storage systems contributed RMB 53.26 billion (+87.54 %), lifting their revenue share to 19.2 %. • Battery materials, recycling and minerals delivered RMB 18.81 billion (+67.23 %). • Domestic sales expanded 61.28 % to RMB 189.79 billion, while overseas sales rose 42.35 % to RMB 87.13 billion.
Cash Flow and Balance Sheet • Net operating cash inflow grew 2.61 % to RMB 60.22 billion. • Total assets climbed 16.83 % to RMB 1.14 trillion, with cash, bank balances and deposits of RMB 372.05 billion. • The debt-to-asset ratio stood at 63.65 %, up 1.71 percentage points from end-2025, reflecting new bond issues and bank borrowings. • R&D expense reached RMB 11.38 billion, representing 4.1 % of revenue.
Dividend The board approved an interim cash dividend of RMB 14.11 (tax inclusive) per 10 shares, totaling RMB 6.49 billion, equivalent to 15 % of first-half attributable net profit. The dividend will be paid on 3 September 2026 to shareholders on record as of 13 August 2026.
Market Position and Operations • According to SNE Research, CATL captured a 40.2 % share of global EV battery usage for January–May 2026, up 2.2 percentage points year on year. • The company maintained the No.1 global ranking in energy-storage battery shipments for January–June 2026 (ICCSINO data). • Major product launches included third-generation Shenxing superfast-charging batteries, third-generation Qilin batteries and station-level sodium-ion storage systems. • Capital expenditure accelerated: construction in progress rose to RMB 33.03 billion, with key projects in China and overseas (Hungary, Spain, Indonesia). • Net R&D patent portfolio reached 60,319 patents filed or granted.
Capital Market Activity • Completed a HK$39.12 billion placement of 62.39 million H shares in April 2026, boosting cash reserves for global expansion and zero-carbon initiatives. • Issued RMB 5 billion green technology-innovation corporate bonds and RMB 21.50 billion green technology-innovation medium-term notes during the period.
Outlook Management reiterated its three-pillar strategy—electrochemical storage plus renewables, EV batteries plus new-energy vehicles, and electrification plus intelligentisation—underscoring a focus on technology leadership, premium service and operational excellence to capture growth in EV, energy-storage and emerging applications.